Disposal-Sale An asset at or near the end of its useful life can be disposed via sale to another party. The Asset Manager can perform an Asset Sale Disposal. The following activity will take place: The appropriate Customer (sell-to party), Asset Item, and Item Amount (sale price) is entered. The Asset Sale will result in two NetSuite… Continue reading Fixed Asset Disposal Methods
Author: Salini R
Fixed Asset Management Reporting
Fixed Asset Management Reporting The following searches come native with FAM bundle and are recommended for use with the Asset Manager role and dashboard. Any role with Fixed Assets permissions can access these reports: Depreciation Monthly Report Additions Disposals Period Movement Asset List Asset Register Proposal History
Manufacturing Setup and Process
Setup Enable Features Assembly Item Creation BOM Creation- Requires enabling Advanced BOM feature. If this feature is not enabled, Legacy Bom can be used. BOM Revisions creation Manufacturing charge Items Manufacturing cost template Work Center Manufacturing Routing Process WO without WIP Create WO without WIP Status- Planned, Released, Built Click on Build button… Continue reading Manufacturing Setup and Process
Manufacturing Modules
Manufacturing Modules NetSuite Manufacturing WIP & Routings Cloud Service – Manufacturing Work in Progress NetSuite Work Orders and Assemblies Cloud Service – Light Manufacturing Light Manufacturing provides basic manufacturing features- WO, Assembly Items . Manufacturing WIP module provides features like Manufacturing Routing, Manufacturing Cost Templates etc .
Budget Reports
NetSuite provides the user with native Budget Reports such as Budget vs. Actual and the Budget Income Statement. These reports enable the user to analyze budgeted and actual project or customer financials to determine how closely their cost and billings compare to those they originally budgeted. To access these reports, navigate to Reports > Banking/Budgeting… Continue reading Budget Reports
Budget CSV Import
Step 1: Download the Budget Template File To access the Budget Import Template in NetSuite, navigate to Transactions > Financial > Set Up Budgets > Import. On the Import Assistant Screen click the link ‘Budget Template File’ and download excel to computer. In the Template enter the following information: Year Category Account Subsidiary Amount for… Continue reading Budget CSV Import
Budget Creation in NetSuite: Creation and Copy Budgets
To manually create Budgets in NetSuite, navigate to; Transactions > Financial > Set Up Budgets To view existing Budgets in NetSuite, navigate to Transactions > Financial > Set Up Budgets > List. Copy Budgets Budgets can also be copied from a previous year and applied to a new period. To do so the user will… Continue reading Budget Creation in NetSuite: Creation and Copy Budgets
Budgets in NetSuite
Budgets in NetSuite will be specific to a fiscal year and permits the entry of an amount per account for each accounting period in the year. Budgets can provide information for reporting such as NetSuite’s Budget vs. Actual report. We can save estimates of income and expense as budgets for financial planning purposes. The user… Continue reading Budgets in NetSuite
Defining Foreign Currency Variance Posting Rules
You can define foreign currency variance posting rules on the Foreign Currency Variance Posting Rule page. Each rule specifies the account into which gain or loss resulting from foreign currency variances is posted. This account is the Destination Account. The rules consist of a set of source or revaluation transaction criteria that determine… Continue reading Defining Foreign Currency Variance Posting Rules
Realized gain or loss posting to separate accounts.
The client required us to check if it is possible to post Realized gain or loss to separate accounts. Now it is posted to default system generated account. They want to create new accounts and post gain to one account and loss to another account. Unrealized gain or loss is calculated for open transactions of… Continue reading Realized gain or loss posting to separate accounts.